Brand Finance Report for the year 2023
Tata Consultancy Services and Infosys grew their brand value to retain their positions as the second and third most valuable IT services brands, according to the ‘IT Services 25’ list prepared by UK-based consultancy Brand Finance for the year 2023.
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Gist of The Report:-
- Accenture retained the top slot for the fifth year straight, with a brand valued at $39.8 billion. It is the strongest IT services brand in the ranking with a Brand Strength Index (BSI) score of 87.8 out of 100 and a corresponding AAA brand rating.
- TCS’s brand value was up 2 per cent at $17.2 billion. TCS has delivered many tailored transformation programmes as clients migrated to various hybrid working methods, said the Brand Finance report.
- Infosys’s brand value rose 2 per cent to $13 billion as it consolidated its position amongst the top three most valuable IT services brands globally. A rating of AAA helped Infosys to enter the top 150 most valuable brands in the world.
- HCLTech’s brand value was up 7 per cent, as it retained its position as the eighth most valued brand. HCLTech’s brand valuation grew the highest among the four major India-based technology firms placed in the Top 10 IT Services category.
- Tech Mahindra was another brand that climbed the ranking order from 15th position to 11th a bigger jump in ranking than any other brand. Its brand value has increased by approximately 66 per cent since the beginning of the pandemic.On a year on year basis Tech Mahindra’s brand value was up 15 per cent to $3.5 billion.
- The two brands that saw a drastic fall were Cognizant and Wipro.
- Nasdaq-listed Cognizant fell from fifth position to seventh with a brand value of $8.63 billion.
- Wipro saw its ranking go down to nine from last year’s seven.
About Brand Finance:-
Brand Finance is the world’s leading independent brand valuation and strategy consultancy. Headquartered in the City of London, we are present in over 20 countries. Founded in 1996 with the aim of ‘bridging the gap between marketing and finance’, for more than 20 years we have helped companies and organisations of all types to connect their brands to the bottom line.